Beijing Expresses Concern over Gains in Commodities Prices

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One of China’s top central government authorities has expressed its concerns about the impact of ongoing gains in commodities prices on segments of the Chinese economy

Jin Xiandong (金贤东), policy research office chair at the National Development and Reform Commission (NDRC), said that the authority would work with other government departments to strengthen monitoring and early warnings in relation to commodities price gains, as well as strengthen market regulation and adopt targeted measures to maintain market stability.

Jin made the remarks on 18 May at a press conference held by the NDRC.

Jin pointed out that in April the producer price index (PPI) in China rose 6.8% compared to the same period last year, while the PPI for the January – April period saw a 3.3% YoY gain. PPI is expected to see further strong growth in the second quarter, partially as a result of the low base created by the COVID-19 pandemic.

According to Jin the NDRC has already worked with other authorities to unveil policies for adjusting and improving steel imports, and strengthening regulation of the futures market in order to deal with commodities price gains.

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